The budget bill passed in July adds a new deduction for seniors that could eliminate taxes on social security for some.

You can only claim the new senior tax deduction if you were 65 or older at the end of 2025. You must also provide your Social ...

The IRS will allow up to $10,000 in car loan interest deduction starting with 2026 tax filings for the 2025 tax year. This new federal tax break applies to qualifying new vehicles purchased after ...

The OBBBA created a new tax deduction for seniors worth up to $12,000 for joint filers. Find out who qualifies, the income ...

Rep. Gus Bilirakis has welcomed the Working Families Tax Cut Act, which is set to reform the tax code in the country and ...

The standard deduction is bigger than ever, itemizing rules have changed, and new deductions complicate matters. Here’s how to choose the option that’s best for you.

The IRS has released a set of FAQs to answer questions about eligibility, reporting, and limits for the new, temporary ...

President Donald Trump's "big beautiful bill" increased the SALT deduction limit to $40,000 for 2025. Here's how that could affect your tax return this season.

A new deduction will lower the tax bill for many older Americans this year. Taxpayers, however, need to ensure they qualify ...

The proposed regulations clarify points including the interaction of qualifying occupations for which tips are customarily ...

The enhanced deduction for seniors applies on 2025 tax returns to adults born before Jan. 2, 1961.